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Contributor
Puneet Sood
Posts: 31
Registered: ‎09-06-2017

How do we do the property valuation for home insurance?

How do we do the property valuation for home insurance?

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Accepted Solutions
Regular Contributor
Arti
Posts: 199
Registered: ‎30-08-2021
Solution

Re: How do we do the property valuation for home insurance?

There are different methods to determine property value for the insurance purpose. Particularly, the property might be valued on the basis of its balanced cost. Often, an insurance valuation is based on actual cash value (ACV), because it reflects the real value of the insured property.

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Contributor
Shinoy Chenatra
Posts: 24
Registered: ‎28-08-2017

Re: How do we do the property valuation for home insurance?

Property valuation is done by multiplying the built up area of the property with the cost of construction per square feet.

 

Currently the cost of construction is taken around 1500 to 2000 depending on the location of the property and type of construction.

Regular Contributor
Arti
Posts: 199
Registered: ‎30-08-2021
Solution

Re: How do we do the property valuation for home insurance?

There are different methods to determine property value for the insurance purpose. Particularly, the property might be valued on the basis of its balanced cost. Often, an insurance valuation is based on actual cash value (ACV), because it reflects the real value of the insured property.